England cricket kit supplier Castore eyes blockbuster sale

Castore, the sportswear manufacturer backed by Sir Andy Murray, is exploring a sale after receiving takeover approaches from a string of industry rivals.

Sky News can exclusively reveal that Castore - founded in 2016 by the Liverpudlian brothers Phil and Tom Beahon - has appointed the investment banking giant JPMorgan to field interest from potential buyers.

A formal sale process has not yet been initiated, but industry sources said this weekend that Castore's board had decided to examine strategic options for the business following a surge of inbound interest.

The identities of Castore's suitors was unclear, although one sportswear industry insider said they included peers from China and other parts of the world.

One source cautioned that a deal could take the form of a majority or minority sale, a partnership or no transaction taking place at all.

The exploratory talks about a sale further underline the Beahon brothers' credentials a decade after they founded the brand with the intention of taking on giants such as Adidas and Nike.

Any sale would see the siblings, who own a sizeable stake in the company, remain at the helm, according to one insider.

The pair decided to found the company after their fledgling professional sports careers - one as a footballer, the other a cricketer - came to a premature end.

Still in their 30s, the Beahons rank among Britain's most successful young entrepreneurs.

Castore, which counts the England cricket and rugby union teams among its most prominent kit supply contracts, was valued at about £950m when it raised external equity funding in 2023.

Since then, it has also taken on Sir Jim Ratcliffe's Ineos Group as an investor after Castore agreed to acquire Belstaff, the British premium heritage brand, last year.

The company's prospective valuation in a takeover deal is unclear, although it is likely to be higher than the price tag achieved three years ago.

Based in Manchester, Castore also supplies the Oracle Red Bull Racing Formula One team and Premier League club Everton.

In May, the company said it had secured £90m in new debt funding from lenders including BNP Paribas, HSBC and Lloyds Banking Group to help finance its continued growth.

"For Castore, the growth within the global sports market remains highly attractive and whilst competitive dynamics can fluctuate, our agile and digital first model is proven to deliver consistent revenue growth for sports teams across multiple categories and geographies," Tom Beahon said at the time.

"We are highly confident in Castore's ability to continue to win in the professional sports market, which provides an exceptional engine to drive our mainline brand growth internationally.

"The combination of a long term founder-led strategy, prioritising innovation and brand building and commitment to leveraging technology to consistently drive efficiencies positions the group for long term success."

Castore remains loss-making but recorded £335m in annual revenue last year and continues to grow at an enviable rate.

The company's investors include another pair of brothers - the Issas, who founded petrol forecourt giant EG Group and for a time jointly owned the supermarket chain.

Financial investors including Hanaco Ventures, Felix Capital and The Raine Group, the merchant bank which led the 2023 fundraising, are also among Castore's backers.

Sir Andy Murray, the three-time Grand Slam winner and double Olympic gold medallist who retired from professional tennis in 2024, has been a shareholder in the company since 2019.

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At the time, he said Castore was "a young, exciting brand that offers something different, with products that are really well cut and designed".

"For me it was a natural progression from previous kit partners."

The founders of Pure Gym and New Look are also shareholders in the business.

Castore has a network of stores, both in the UK and overseas, and now has a target of hitting £1bn in revenue, Mr Beahon told The Times last month.

When contacted by Sky News, Castore declined to comment.

(c) Sky News 2026: England cricket kit supplier Castore eyes blockbuster sale